L&T Infotech posts strong 35 pct YoY Growth in PAT

L&T Infotech (BSE code

In US Dollars:

Revenue at USD 231.1 million; growth of 0.6% QoQ and 10.8% YoY

Constant Currency Revenue growth of (0.3%) QoQ and 12.1% YoY

In Indian Rupees:

Revenue at Rs 15,550 million; growth at (0.2%) QoQ and 16.6% YoY

Net Income at Rs 2,358 million; Net Income growth at 3.3% QoQ and 35% YoY

"I am very pleased to report a solid quarter of strong execution, resulting in increased profitability. With over 4% sequential growth in services revenue and close to 22% of our projects in Digital technologies, we have seen growth across verticals. During last year, we have embarked on a journey to build a next generation IT services and solutions company, focused on solving the challenges of physical and digital convergence. We are investing in building differentiated offerings, competencies, training and re-skilling that are aligned to client demand and spends. Our strategic intent is to build significant strength in five areas of growth - Digital, Analytics, IIoT, Cloud Apps and Automation. I also take this opportunity to thank all our investors who have reposed their faith in us during our recent IPO. Building shareholder value is an important goal for us," says Sanjay Jalona, Chief Executive Officer and Managing Director.